Spain: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2024

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in Spain

In 2022, the Spanish market for bearing housings incorporating ball or roller bearings increased by 12% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption posted prominent growth. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Production of Bearing Housings Incorporating Ball Or Roller Bearings in Spain

In value terms, bearing housing with ball bearing production dropped to $X in 2022 estimated in export price. In general, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.3% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 57% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports from Spain

In 2022, after five years of decline, there was significant growth in shipments abroad of bearing housings incorporating ball or roller bearings, when their volume increased by 37% to X tons. Over the period under review, exports, however, showed a noticeable decrease. The pace of growth was the most pronounced in 2013 when exports increased by 142%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, bearing housing with ball bearing exports surged to $X in 2022. Overall, exports enjoyed a resilient increase. The pace of growth was the most pronounced in 2013 when exports increased by 126%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons) was the main destination for bearing housing with ball bearing exports from Spain, with a 34% share of total exports. Moreover, bearing housing with ball bearing exports to Italy exceeded the volume sent to the second major destination, Portugal (X tons), twofold. Germany (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy stood at +54.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+29.2% per year) and Germany (+50.3% per year).

In value terms, Portugal ($X), Italy ($X) and Germany ($X) constituted the largest markets for bearing housing with ball bearing exported from Spain worldwide, together comprising 57% of total exports. Cuba, Mexico, France, Greece and Morocco lagged somewhat behind, together comprising a further 23%.

In terms of the main countries of destination, Mexico, with a CAGR of +103.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for bearing housings incorporating ball or roller bearings amounted to $X per ton, remaining constant against the previous year. Overall, the export price, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2020 when the average export price increased by 93%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then contracted slightly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Portugal ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+10.7%), while the prices for the other major destinations experienced a decline.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports into Spain

In 2022, overseas purchases of bearing housings incorporating ball or roller bearings increased by 23% to X tons, rising for the second year in a row after two years of decline. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.1% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 64%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, bearing housing with ball bearing imports skyrocketed to $X in 2022. In general, imports posted prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 174% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of bearing housing with ball bearing to Spain, with a 56% share of total imports. Moreover, bearing housing with ball bearing imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fivefold. The third position in this ranking was held by Italy (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+75.3% per year) and Italy (+27.9% per year).

In value terms, China ($X) constituted the largest supplier of bearing housings incorporating ball or roller bearings to Spain, comprising 31% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by Vietnam, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.6% per year) and Vietnam (+76.9% per year).

Import Prices by Country

The average import price for bearing housings incorporating ball or roller bearings stood at $X per ton in 2022, almost unchanged from the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 67%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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